Nigerians Create 4m eNaira Wallets For Q2 Social Intervention Payments

Over four million e-naira wallets have been created in anticipation of the second quarter disbursement of funds under the federal government social intervention programme, the Central bank of Nigeria (CBN) disclosed yesterday.

The CBN said the country’s Central Bank Digital Currency (CBDC), e-Naira, currently has 13 million electronic wallets with over four million of them opened over the past couple of days in anticipation of second quarter payments under the social intervention programme.

CBN governor, Godwin Emefiele, who disclosed this yesterday, said the ministry of Humanitarian Affairs, Disaster Management and Social Development has been instrumental to the increase in e-naira wallets. The CBN governor noted that “As of March 20, approximately four million wallets were created especially for social intervention payments, represented about 30 per cent of total wallets so far.

“These wallets were created in response to the request from the ministry as part of plans for the next tranche of the conditional cash transfer programme, which is scheduled for second quarter of 2023.

“Within the last 18 months when the e-naira was launched, we have recorded over 13 million wallets. And these wallets are categorised based on their level of usage. With more 12,6 million at tier zero 11,354 at Tier one 367,000 at tier two to 9649 at tier three.

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“There are other good and encouraging data that will say like the number of E wallets which is about 13 million, the value of e-naira transactions has reached almost N22 billion, which is a 68 per cent increase since the beginning of this year over N10 billion of it had been minted, and then about N3.429 billion of it is currently in circulation. So, I will say we have seen good progress in the adoption of e-naira.”

we move more and more towards financial inclusion and get people away from being excluded from the financial system that e-naira remains one portable option for you to adopt.”